May 17, 2012

Vietnam's tuna export to Middle East still moderate

Vietnam's tuna export to the Middle East is still quite modest as compared with shrimp and catfish but the market is determined to play an important role in Vietnam's tuna products, the Vietnam Association of Seafood Exporters and Producers (VASEP) said.

As of mid-April, total value of Vietnam's tuna export to the Middle East reached nearly US$9 million, up 16.6%, compared to the same period of 2011.

Specifically, only 10 countries in the Middle East market was up nearly 6% of total export value of Vietnam's tuna, three countries with the most import included Israel, Sudan and Lebanon with the value of US$6.4 million, accounting for over 70% of the total value of Vietnam's tuna export to the region.

Countries with strong import growth, compared to the same period of last have been Sudan, Iraq, Israel and Kuwait.

According to VASEP, Vietnam's export activities to Middle Eastern countries have had more favourable due to higher rising consumption demand in the region. In addition, many Middle Eastern countries are driven their commercial activities and investment to the East, including Vietnam, will create more opportunities for Vietnam's goods in penetrating new market.

However VASEP also warned businesses, although the market is not demanding about strict quality and design, there are many legal and technical barriers and business customs with high payment risk level, information lack and robust competition due to low import tax level.